Mark Lin Sells 2,907 Shares of Semtech Co. (NASDAQ:SMTC) Stock

Semtech Co. (NASDAQ:SMTC) CFO Mark Lin sold 2,907 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $37.71, for a total transaction of $109,622.97. Following the sale, the chief financial officer now owns 13,481 shares in the company, valued at approximately $508,368.51. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mark Lin also recently made the following trade(s):

• On Thursday, March 6th, Mark Lin sold 10,890 shares of Semtech stock. The shares were sold at an average price of $34.68, for a total value of $377,665.20.
• On Wednesday, January 29th, Mark Lin sold 2,990 shares of Semtech stock. The stock was sold at an average price of $59.45, for a total value of $177,755.50.
• On Friday, January 3rd, Mark Lin sold 1,359 shares of Semtech stock. The stock was sold at an average price of $65.15, for a total value of $88,538.85.

Semtech Stock Down 5.1 %

Shares of NASDAQ SMTC opened at $35.05 on Friday. The stock has a market cap of $2.65 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. Semtech Co. has a 52-week low of $27.25 and a 52-week high of $79.52. The business has a 50-day moving average price of $45.94 and a 200 day moving average price of $51.03.

Semtech (NASDAQ:SMTC) last announced its earnings results on Thursday, March 13th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $249.40 million. The business’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) earnings per share. Sell-side analysts anticipate that Semtech Co. will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Semtech

Institutional investors and hedge funds have recently made changes to their positions in the business. Whale Rock Capital Management LLC increased its position in Semtech by 364.2% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,266,202 shares of the semiconductor company’s stock valued at $202,015,000 after acquiring an additional 2,562,602 shares during the period. Wellington Management Group LLP grew its stake in shares of Semtech by 827.0% in the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock valued at $132,550,000 after purchasing an additional 1,911,890 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Semtech by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock valued at $713,906,000 after purchasing an additional 1,326,226 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Semtech during the fourth quarter worth approximately $51,315,000. Finally, Fred Alger Management LLC lifted its holdings in shares of Semtech by 122.6% during the fourth quarter. Fred Alger Management LLC now owns 1,491,844 shares of the semiconductor company’s stock worth $92,271,000 after purchasing an additional 821,671 shares during the period.

Analysts Set New Price Targets

Several analysts recently weighed in on SMTC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Semtech in a report on Friday, March 14th. UBS Group lowered their target price on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Benchmark lowered their target price on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Craig Hallum cut their price target on Semtech from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, Northland Securities upped their price objective on Semtech from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.55.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.